Oriental Bank reduces term deposit rates

Rates of term deposits of over Rs 5 crore have been reduced by 25 bps with immediate effect

Oriental Bank of Commerce has reduced rates of term deposits of over Rs 5 crore by 25 basis points with immediate effect. This is applicable only on maturities across three buckets.  

For deposits with a maturity of 180-269 days, the rates have been reduced to 8% from 8.25% earlier. For those maturing between 1–2 years and 2-3 years, the rates have been reduced to 8.5% each from 8.75% earlier.

The term deposit for all the other buckets remains unchanged and ranges between 6 and 8.75%.